Company Quick10K Filing
Lakeland Financial
Price44.42 EPS3
Shares26 P/E13
MCap1,146 P/FCF16
Net Debt-137 EBIT167
TEV1,009 TEV/EBIT6
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-03-31 Filed 2020-04-30
10-K 2019-12-31 Filed 2020-02-24
10-Q 2019-09-30 Filed 2019-11-01
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-05
10-Q 2018-06-30 Filed 2018-08-03
10-Q 2018-03-31 Filed 2018-05-07
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-07
10-Q 2017-06-30 Filed 2017-08-07
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-03-03
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-05
10-Q 2014-09-30 Filed 2014-11-10
10-Q 2014-06-30 Filed 2014-08-11
10-Q 2014-03-31 Filed 2014-05-12
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-09
10-Q 2013-03-31 Filed 2013-05-10
10-K 2012-12-31 Filed 2013-03-04
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-03-05
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-03-07
10-Q 2010-09-30 Filed 2010-11-04
10-Q 2010-06-30 Filed 2010-08-04
10-Q 2010-03-31 Filed 2010-05-05
10-K 2009-12-31 Filed 2010-03-08
8-K 2020-07-27 Regulation FD, Exhibits
8-K 2020-07-27 Earnings, Exhibits
8-K 2020-07-14 Regulation FD
8-K 2020-05-05
8-K 2020-04-27
8-K 2020-04-14
8-K 2020-04-14
8-K 2020-03-25
8-K 2020-03-10
8-K 2020-01-27
8-K 2020-01-14
8-K 2019-11-14
8-K 2019-11-04
8-K 2019-10-25
8-K 2019-10-08
8-K 2019-07-25
8-K 2019-07-09
8-K 2019-04-25
8-K 2019-04-09
8-K 2019-04-09
8-K 2019-03-20
8-K 2019-03-14
8-K 2019-01-25
8-K 2019-01-08
8-K 2018-11-27
8-K 2018-10-25
8-K 2018-10-11
8-K 2018-10-09
8-K 2018-07-25
8-K 2018-07-10
8-K 2018-04-25
8-K 2018-04-10
8-K 2018-04-10
8-K 2018-01-25
8-K 2018-01-11
8-K 2018-01-09

LKFN 10Q Quarterly Report

Item 1. Financial Statements
Note 1. Basis of Presentation
Note 2. Securities
Note 3. Loans
Note 4. Allowance for Loan Losses and Credit Quality
Note 5. Borrowings
Note 6. Fair Value Disclosures
Note 7. Offsetting Assets and Liabilities
Note 8. Earnings per Share
Note 9. Accumulated Other Comprehensive Income (Loss)
Note 10. Leases
Note 11. Covid - 19 and Current Economic Conditions
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 lkfn-20200331xex31d1.htm
EX-31.2 lkfn-20200331xex31d2.htm
EX-32.1 lkfn-20200331xex32d1.htm
EX-32.2 lkfn-20200331xex32d2.htm

Lakeland Financial Earnings 2020-03-31

Balance SheetIncome StatementCash Flow
5.04.03.02.01.00.02012201420172020
Assets, Equity
0.10.10.10.00.00.02017201720182019
Rev, G Profit, Net Income
0.30.20.1-0.1-0.2-0.32012201420172020
Ops, Inv, Fin

0000721994--12-312020Q1falseP0MP0M00.050.030.010000721994us-gaap:TreasuryStockMember2020-03-310000721994us-gaap:RetainedEarningsMember2020-03-310000721994us-gaap:ParentMember2020-03-310000721994us-gaap:NoncontrollingInterestMember2020-03-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-03-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-03-310000721994us-gaap:TreasuryStockMember2019-12-310000721994us-gaap:RetainedEarningsMember2019-12-310000721994us-gaap:ParentMember2019-12-310000721994us-gaap:NoncontrollingInterestMember2019-12-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000721994us-gaap:TreasuryStockMember2019-03-310000721994us-gaap:RetainedEarningsMember2019-03-310000721994us-gaap:ParentMember2019-03-310000721994us-gaap:NoncontrollingInterestMember2019-03-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-03-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-03-310000721994us-gaap:TreasuryStockMember2018-12-310000721994us-gaap:RetainedEarningsMember2018-12-310000721994us-gaap:ParentMember2018-12-310000721994us-gaap:NoncontrollingInterestMember2018-12-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-3100007219942020-03-312020-03-3100007219942019-03-312019-03-310000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-03-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-03-310000721994us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-310000721994us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-03-310000721994us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994us-gaap:SubstandardMember2020-03-310000721994us-gaap:SpecialMentionMember2020-03-310000721994us-gaap:PassMember2020-03-310000721994us-gaap:NonperformingFinancingReceivableMember2020-03-310000721994us-gaap:DoubtfulMember2020-03-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:PassMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SubstandardMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:SpecialMentionMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:PassMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:NonperformingFinancingReceivableMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:DoubtfulMember2019-12-310000721994us-gaap:SecondMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:SubstandardMember2019-12-310000721994us-gaap:SpecialMentionMember2019-12-310000721994us-gaap:PassMember2019-12-310000721994us-gaap:NonperformingFinancingReceivableMember2019-12-310000721994us-gaap:DoubtfulMember2019-12-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-03-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:OtherCommercialLoansMember2020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-03-310000721994us-gaap:ConsumerLoanMember2020-03-310000721994us-gaap:CommercialPortfolioSegmentMember2020-03-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-03-310000721994lkfn:OtherConsumerLoansMember2020-03-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:OtherCommercialLoansMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994us-gaap:ConsumerLoanMember2019-12-310000721994us-gaap:CommercialPortfolioSegmentMember2019-12-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-12-310000721994lkfn:OtherConsumerLoansMember2019-12-310000721994lkfn:ImpairedLoansMember2020-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2019-03-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-03-310000721994lkfn:UnallocatedMember2019-03-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-03-310000721994lkfn:OtherConsumerMember2019-03-310000721994lkfn:OtherCommercialMember2019-03-310000721994lkfn:ImpairedLoansMember2019-03-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2018-12-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2018-12-310000721994lkfn:UnallocatedMember2018-12-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2018-12-310000721994lkfn:OtherConsumerMember2018-12-310000721994lkfn:OtherCommercialMember2018-12-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2018-12-310000721994us-gaap:RevolvingCreditFacilityMember2019-08-020000721994us-gaap:RevolvingCreditFacilityMember2019-12-310000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-03-310000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-03-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310000721994lkfn:OwnerOccupiedLoansMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-03-310000721994us-gaap:JuniorLienMember2020-03-310000721994us-gaap:JuniorLienMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-03-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:OtherConsumerLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:OtherConsumerLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994lkfn:OtherCommercialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:OtherCommercialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-03-310000721994lkfn:FinancialAsset30To89DaysPastDueMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OtherConsumerLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OtherConsumerLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:OtherCommercialLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:OtherCommercialLoansMemberlkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-310000721994lkfn:FinancialAsset30To89DaysPastDueMember2019-12-310000721994lkfn:CommercialRealEstateBuildingMember2019-03-310000721994lkfn:CommercialAndIndustrialNonworkingCapitalMember2019-03-310000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:JuniorLienMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994lkfn:UnallocatedMember2020-03-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994lkfn:OtherConsumerMember2020-03-310000721994lkfn:OtherCommercialMember2020-03-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:UnallocatedMember2019-12-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:OtherConsumerMember2019-12-310000721994lkfn:OtherCommercialMember2019-12-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel3Member2020-03-310000721994us-gaap:FairValueInputsLevel2Member2020-03-310000721994lkfn:AgribusinessAndAgriculturalMember2020-01-012020-03-310000721994us-gaap:RetainedEarningsMember2020-01-012020-03-310000721994us-gaap:RetainedEarningsMember2019-01-012019-03-310000721994lkfn:FederalHomeLoanBankAdvanceTenYearPutableSixMonthBermudanFixedRateDueMarch42030Memberus-gaap:FederalHomeLoanBankAdvancesMember2020-01-012020-03-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:WeightedAverageMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994srt:MinimumMemberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994lkfn:FederalHomeLoanBankAdvanceTenYearPutableSixMonthBermudanFixedRateDueMarch42030Memberus-gaap:FederalHomeLoanBankAdvancesMember2020-03-310000721994us-gaap:RevolvingCreditFacilityMember2020-03-310000721994lkfn:FederalHomeLoanBankOfIndianapolisNotesOnePointSixOnePercentageDueJanuarySevenTwoThousandTwentyMemberus-gaap:FederalHomeLoanBankAdvancesMember2019-12-310000721994us-gaap:RevolvingCreditFacilityMemberus-gaap:PrimeRateMember2020-01-012020-03-310000721994us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-03-310000721994us-gaap:AccountingStandardsUpdate201708Memberus-gaap:RetainedEarningsMember2019-01-012019-03-310000721994us-gaap:AccountingStandardsUpdate201708Memberus-gaap:ParentMember2019-01-012019-03-310000721994us-gaap:AccountingStandardsUpdate201708Member2019-01-012019-03-310000721994us-gaap:CommonStockMember2020-03-310000721994us-gaap:CommonStockMember2019-12-310000721994us-gaap:CommonStockMember2019-03-310000721994us-gaap:CommonStockMember2018-12-3100007219942019-03-3100007219942018-12-310000721994lkfn:ImpairedLoansMember2019-01-012019-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMember2020-01-012020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMember2019-01-012019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMember2019-01-012019-12-310000721994us-gaap:TreasuryStockMember2020-01-012020-03-310000721994us-gaap:ParentMember2020-01-012020-03-310000721994us-gaap:CommonStockMember2020-01-012020-03-310000721994us-gaap:TreasuryStockMember2019-01-012019-03-310000721994srt:MinimumMemberus-gaap:USTreasurySecuritiesMember2020-01-012020-03-310000721994srt:MinimumMemberus-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember2020-01-012020-03-310000721994srt:MinimumMemberus-gaap:MunicipalNotesMember2020-01-012020-03-310000721994srt:MaximumMemberus-gaap:USTreasurySecuritiesMember2020-01-012020-03-310000721994srt:MaximumMemberus-gaap:USGovernmentAgenciesShorttermDebtSecuritiesMember2020-01-012020-03-310000721994srt:MaximumMemberus-gaap:MunicipalNotesMember2020-01-012020-03-310000721994us-gaap:CommercialLoanMember2020-01-012020-03-310000721994lkfn:OtherCommercialLoansMember2020-01-012020-03-310000721994us-gaap:CommercialLoanMember2019-01-012019-12-310000721994lkfn:OtherCommercialLoansMember2019-01-012019-12-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-01-012020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-01-012020-03-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-01-012020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-01-012020-03-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-03-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-03-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-03-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2020-01-012020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:OtherCommercialLoansMember2020-01-012020-03-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-03-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-03-310000721994us-gaap:CommercialPortfolioSegmentMember2020-01-012020-03-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2020-01-012020-03-310000721994us-gaap:LineOfCreditMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:NonWorkingCapitalLoansMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994lkfn:LoansSecuredByFarmlandMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-310000721994lkfn:LoansForAgriculturalProductionMemberus-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-310000721994us-gaap:SecondMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994us-gaap:FirstMortgageMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberus-gaap:RealEstateLoanMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:OtherCommercialLoansMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-12-310000721994lkfn:ResidentialConstructionAndLandDevelopmentLoansMemberlkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-310000721994us-gaap:CommercialPortfolioSegmentMember2019-01-012019-12-310000721994lkfn:TotalConsumer1To4FamilyMortgageLoansMember2019-01-012019-12-3100007219942019-01-012019-12-310000721994us-gaap:EquipmentMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994us-gaap:EquipmentMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:MarketableSecuritiesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:MarketableSecuritiesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:InventoryWorkInProcessMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:InventoryWorkInProcessMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:InventoryFinishedGoodsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:InventoryFinishedGoodsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:FinishedGoodsMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:FinishedGoodsMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:CommercialRealEstatesMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:CommercialRealEstatesMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000721994lkfn:ModifiedRepaymentTermsMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994lkfn:AllModificationMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994lkfn:ModifiedRepaymentTermsMember2020-01-012020-03-310000721994lkfn:AllModificationMember2020-01-012020-03-310000721994lkfn:ModifiedRepaymentTermsMemberlkfn:NonWorkingCapitalLoansMember2019-01-012019-03-310000721994lkfn:AllModificationMemberlkfn:NonWorkingCapitalLoansMember2019-01-012019-03-310000721994lkfn:ModifiedRepaymentTermsMember2019-01-012019-03-310000721994lkfn:AllModificationMember2019-01-012019-03-310000721994us-gaap:USStatesAndPoliticalSubdivisionsMember2020-03-310000721994us-gaap:ResidentialMortgageBackedSecuritiesMember2020-03-310000721994us-gaap:CommercialMortgageBackedSecuritiesMember2020-03-310000721994us-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-310000721994us-gaap:ResidentialMortgageBackedSecuritiesMember2019-12-310000721994us-gaap:CommercialMortgageBackedSecuritiesMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000721994us-gaap:FairValueMeasurementsRecurringMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueMeasurementsRecurringMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMember2020-03-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ResidentialPortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstatePortfolioSegmentMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:TotalCommercialAndIndustrialLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherConsumerLoansMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:AgribusinessAndAgriculturalMemberus-gaap:MeasurementInputDiscountRateMemberlkfn:CollateralBasedMeasurementsMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherCommercialLoansMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherCommercialLoansMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherCommercialLoansMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CommercialLoanMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OtherCommercialLoansMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:OpenEndAndJuniorLienLoansMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMemberlkfn:LoansSecuredByFarmlandMemberlkfn:AgribusinessAndAgriculturalMember2019-12-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:FairValueMeasurementsNonrecurringMember2019-12-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2020-03-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-03-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-03-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMember2020-03-310000721994lkfn:OtherConsumerLoansMember2020-03-310000721994lkfn:OtherCommercialLoansMember2020-03-310000721994us-gaap:ResidentialMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:LineOfCreditMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994us-gaap:HomeEquityMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:FirstMortgageMemberus-gaap:ResidentialPortfolioSegmentMember2019-12-310000721994us-gaap:CommercialRealEstateMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-12-310000721994lkfn:NonownerOccupiedLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:MultifamilyLoansMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2019-12-310000721994lkfn:LoansSecuredByFarmlandMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:LoansForAgriculturalProductionMemberlkfn:AgriBusinessAndAgriculturalLoansMember2019-12-310000721994lkfn:OtherConsumerLoansMember2019-12-310000721994lkfn:OtherCommercialLoansMember2019-12-310000721994lkfn:OwnerOccupiedLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994us-gaap:ConsumerLoanMemberus-gaap:SubsequentEventMember2020-04-220000721994us-gaap:CommercialLoanMemberus-gaap:SubsequentEventMember2020-04-220000721994us-gaap:SubsequentEventMember2020-04-220000721994us-gaap:ConsumerLoanMember2020-03-310000721994us-gaap:CommercialLoanMember2020-03-310000721994lkfn:ModifiedRepaymentTermsMembersrt:MinimumMemberlkfn:NonWorkingCapitalLoansMemberlkfn:TotalCommercialAndIndustrialLoansMember2019-07-012019-09-300000721994lkfn:ModifiedRepaymentTermsMembersrt:MinimumMember2019-07-012019-09-300000721994lkfn:ModifiedRepaymentTermsMembersrt:MinimumMember2019-01-012019-09-300000721994lkfn:NonWorkingCapitalLoansMember2019-01-012019-03-310000721994lkfn:ModifiedRepaymentTermsMembersrt:MinimumMemberlkfn:NonWorkingCapitalLoansMember2018-07-012018-09-300000721994us-gaap:ParentMember2019-01-012019-03-310000721994us-gaap:CommonStockMember2019-01-012019-03-310000721994us-gaap:InterestRateSwapMember2020-03-310000721994us-gaap:InterestRateSwapMember2019-12-3100007219942019-12-310000721994lkfn:ImpairedLoansMember2020-01-012020-03-3100007219942020-03-310000721994srt:MinimumMember2020-01-012020-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2020-01-012020-03-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2020-01-012020-03-310000721994lkfn:UnallocatedMember2020-01-012020-03-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2020-01-012020-03-310000721994lkfn:OtherConsumerMember2020-01-012020-03-310000721994lkfn:OtherCommercialMember2020-01-012020-03-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2020-01-012020-03-310000721994us-gaap:ResidentialPortfolioSegmentMember2019-01-012019-03-310000721994us-gaap:CommercialRealEstatePortfolioSegmentMember2019-01-012019-03-310000721994lkfn:UnallocatedMember2019-01-012019-03-310000721994lkfn:TotalCommercialAndIndustrialLoansMember2019-01-012019-03-310000721994lkfn:OtherConsumerMember2019-01-012019-03-310000721994lkfn:OtherCommercialMember2019-01-012019-03-310000721994lkfn:AgriBusinessAndAgriculturalLoansMember2019-01-012019-03-3100007219942019-01-012019-03-310000721994us-gaap:FairValueInputsLevel1Member2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000721994us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-03-310000721994us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-03-310000721994us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310000721994us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-3100007219942020-04-2900007219942020-01-012020-03-31xbrli:sharesiso4217:USDlkfn:borrowerxbrli:purelkfn:loanlkfn:subsidiaryiso4217:USDxbrli:shareslkfn:item

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _____________

Commission File Number: 0-11487

LAKELAND FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Indiana

35-1559596

(State or Other Jurisdiction

(IRS Employer

of Incorporation or Organization)

 

Identification No.)

202 East Center Street,

Warsaw, Indiana

46580

(Address of principal executive offices)

(Zip Code)

(574) 2676144

(Registrant’s Telephone Number, Including Area Code)

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, No par value

LKFN

The Nasdaq Stock Market LLC

(Nasdaq Global Select Market)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes    No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer,’’ ‘‘smaller reporting company,’’ and ‘‘emerging growth company’’ in Rule 12b–2 of the Exchange Act.

Large accelerated filer    Accelerated filer    Non-accelerated filer

Smaller reporting company     Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

Number of shares of common stock outstanding at April 29, 2020:  25,701,115

Table of Contents

TABLE OF CONTENTS

Page

PART I. FINANCIAL INFORMATION

Item 1.

Financial Statements

Consolidated Balance Sheets — March 31, 2020 and December 31, 2019

1

Consolidated Statements of Income — three months ended March 31, 2020 and 2019

2

Consolidated Statements of Comprehensive Income — three months ended March 31, 2020 and 2019

3

Consolidated Statements of Changes in Stockholders’ Equity — three months ended March 31, 2020 and 2019

4

Consolidated Statements of Cash Flows — three months ended March 31, 2020 and 2019

5

Notes to the Consolidated Financial Statements

6

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

30

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

48

Item 4.

Controls and Procedures

48

PART II. OTHER INFORMATION

Item 1.

Legal Proceedings

49

Item 1A.

Risk Factors

49

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

50

Item 3.

Defaults Upon Senior Securities

50

Item 4.

Mine Safety Disclosures

50

Item 5.

Other Information

50

Item 6.

Exhibits

51

SIGNATURES

52

Table of Contents

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS (in thousands, except share data)

March 31, 

December 31, 

    

2020

    

2019

(Unaudited)

ASSETS

Cash and due from banks

$

52,988

$

68,605

Short-term investments

79,593

30,776

Total cash and cash equivalents

132,581

99,381

Securities available-for-sale (carried at fair value)

624,325

608,233

Real estate mortgage loans held-for-sale

7,982

4,527

Loans, net of allowance for loan losses of $53,609 and $50,652

4,032,129

4,015,176

Land, premises and equipment, net

60,945

60,365

Bank owned life insurance

83,037

83,848

Federal Reserve and Federal Home Loan Bank stock

13,772

13,772

Accrued interest receivable

15,433

15,391

Goodwill

4,970

4,970

Other assets

54,904

41,082

Total assets

$

5,030,078

$

4,946,745

LIABILITIES

Noninterest bearing deposits

$

1,057,994

$

983,307

Interest bearing deposits

3,223,709

3,150,512

Total deposits

4,281,703

4,133,819

Borrowings

Federal Home Loan Bank advances

75,000

170,000

Miscellaneous borrowings

10,500

0

Total borrowings

85,500

170,000

Accrued interest payable

10,082

11,604

Other liabilities

46,221

33,222

Total liabilities

4,423,506

4,348,645

STOCKHOLDERS’ EQUITY

Common stock: 90,000,000 shares authorized, no par value 25,701,115 shares issued and 25,234,572 outstanding as of March 31, 2020 25,623,016 shares issued and 25,444,275 outstanding as of December 31, 2019

113,337

114,858

Retained earnings

484,857

475,247

Accumulated other comprehensive income

22,550

12,059

Treasury stock at cost (466,543 shares as of March 31, 2020, 178,741 shares as of December 31, 2019)

(14,261)

(4,153)

Total stockholders’ equity

606,483

598,011

Noncontrolling interest

89

89

Total equity

606,572

598,100

Total liabilities and equity

$

5,030,078

$

4,946,745

The accompanying notes are an integral part of these consolidated financial statements.

1

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME (unaudited - in thousands, except share and per share data)

Three Months Ended

March 31, 

    

2020

    

2019

NET INTEREST INCOME

Interest and fees on loans

Taxable

$

46,054

$

48,866

Tax exempt

222

251

Interest and dividends on securities

Taxable

1,973

2,497

Tax exempt

2,006

1,642

Other interest income

184

238

Total interest income

50,439

53,494

Interest on deposits

11,199

13,883

Interest on borrowings

Short-term

362

950

Long-term

24

452

Total interest expense

11,585

15,285

NET INTEREST INCOME

38,854

38,209

Provision for loan losses

6,600

1,200

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

32,254

37,009

NONINTEREST INCOME

Wealth advisory fees

1,859

1,620

Investment brokerage fees

417

386

Service charges on deposit accounts

2,772

4,287

Loan and service fees

2,408

2,404

Merchant card fee income

669

622

Bank owned life insurance income (loss)

(292)

444

Mortgage banking income

586

222

Net securities gains

0

23

Other income

2,358

1,517

Total noninterest income

10,777

11,525

NONINTEREST EXPENSE

Salaries and employee benefits

11,566

12,207

Net occupancy expense

1,387

1,366

Equipment costs

1,417

1,349

Data processing fees and supplies

2,882

2,425

Corporate and business development

1,111

1,206

FDIC insurance and other regulatory fees

267

406

Professional fees

1,147

937

Other expense

2,312

2,577

Total noninterest expense

22,089

22,473

INCOME BEFORE INCOME TAX EXPENSE

20,942

26,061

Income tax expense

3,643

4,379

NET INCOME

$

17,299

$

21,682

BASIC WEIGHTED AVERAGE COMMON SHARES

25,622,988

25,491,750

BASIC EARNINGS PER COMMON SHARE

$

0.68

$

0.85

DILUTED WEIGHTED AVERAGE COMMON SHARES

25,735,826

25,665,510

DILUTED EARNINGS PER COMMON SHARE

$

0.67

$

0.84

The accompanying notes are an integral part of these consolidated financial statements.

2

Table of Contents

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited - in thousands)

Three months ended March 31,

    

2020

    

2019

Net income

$

17,299

$

21,682

Other comprehensive income

Change in securities available-for-sale:

Unrealized holding gain on securities available-for-sale arising during the period

13,219

10,960

Reclassification adjustment for gains included in net income

0

(23)

Net securities gain activity during the period

13,219

10,937

Tax effect

(2,775)

(2,297)

Net of tax amount

10,444

8,640

Defined benefit pension plans:

Amortization of net actuarial loss

63

50

Net gain activity during the period

63

50

Tax effect

(16)

(12)

Net of tax amount

47

38

Total other comprehensive income, net of tax

10,491

8,678

Comprehensive income

$

27,790

$

30,360

The accompanying notes are an integral part of these consolidated financial statements.

3

Table of Contents

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (unaudited - in thousands, except share and per share data)

Accumulated

Other

Total

Common Stock

Retained

Comprehensive

Treasury

Stockholders’

Noncontrolling

Total

    

Shares

    

Stock

    

Earnings

    

Income (Loss)

    

Stock

    

Equity

    

Interest

    

Equity

Balance at January 1, 2019

25,128,773

$

112,383

$

419,179

$

(6,191)